{"id":13568,"date":"2017-01-31T14:50:23","date_gmt":"2017-01-31T12:50:23","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=13568"},"modified":"2017-01-31T14:50:23","modified_gmt":"2017-01-31T12:50:23","slug":"greek-bonds-suffer-violent-reaction-imf-bailout-decision-looms","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/13568","title":{"rendered":"Greek bonds suffer \u2018violent reaction\u2019 as IMF bailout decision looms"},"content":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F13568\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"13568\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F13568&text=Greek+bonds+suffer+%E2%80%98violent+reaction%E2%80%99+as+IMF+bailout+decision+looms\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"13568\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>Greek bonds suffer \u2018violent reaction\u2019 as IMF bailout decision looms.Greece\u2019s benchmark government bond yields have hit their highest level in two months amid concerns the International Monetary Fund is poised to exit its involvement in the country after more than six years of bailouts.<\/p>\n<p>Athens\u2019 10-year bond yields have surged another 39 basis points (0.39 percentage points) today after a 37bps rise yesterday, hitting 8 per cent and putting them on course for their worst weekly sell-off in nearly 12 months.<\/p>\n<p>Although more than three quarters of Greece\u2019s government debt is owned by its international creditors, the country\u2019s bonds still provide a decent indicator of the market sentiment over its bailout programme (yields rise when a bond\u2019s price falls).<\/p>\n<h4><a href=\"https:\/\/www.ft.com\/content\/6b14c4a2-e4ec-11e6-8405-9e5580d6e5fb\" data-trackable=\"link\">Leaked IMF report<\/a><\/h4>\n<p>Investors are dumping the bonds after a <a href=\"https:\/\/www.ft.com\/content\/6b14c4a2-e4ec-11e6-8405-9e5580d6e5fb\" data-trackable=\"link\">leaked IMF report<\/a> laid bare the schism between the fund and the EU over Greece\u2019s economic health after 2018.<\/p>\n<p>The Washington-based fund has a far more pessimistic outlook on the health of the Greek economy, warning of \u201cexplosive\u201d debt dynamics if the EU does not provide a major debt restructuring for the country.<\/p>\n<p>However, both Brussels and Athens think steady economic growth, combined with a healthy budget surplus and potential inclusion into the ECB stimulus measures will help erode the country\u2019s debt burden, which currently stands at 180 per cent debt of GDP. The IMF thinks liabilities could swell to as much as 275 per cent of GDP after 2022.<\/p>\n<figure class=\"n-content-image n-content-image--center p402_hide\">\n<div class=\"n-image-wrapper n-image-wrapper--placeholder\"><img class=\"n-image\" sizes=\"(min-width: 46.25em) 593px, calc(100vw - 20px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/http%3A%2F%2Fwww.ft.com%2Ffastft%2Ffiles%2F2017%2F01%2FGreece1.png?source=next&amp;fit=scale-down&amp;width=593 593w, https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/http%3A%2F%2Fwww.ft.com%2Ffastft%2Ffiles%2F2017%2F01%2FGreece1.png?source=next&amp;fit=scale-down&amp;width=315 315w\" alt=\"\" \/><\/div>\n<\/figure>\n<p>Greece agreed its third international rescue deal with EU creditors worth \u20ac86bn in the summer of 2015, when the IMF pledged its support to the country but did not sign off on any fresh funds.<\/p>\n<p>After months of wrangling with Brussels and Berlin, the fund is finally poised to make a final decision on whether it will give fresh cash to Greece next week \u2013 a key requirement for parliaments in Germany, the Netherlands, and Finland to agree to the rescue.<\/p>\n<p>Klaus Regling, head of the EU\u2019s bailout fund and Greece\u2019s single largest creditor, said creditors would only approve a fresh injection of bailout cash when the IMF has decided on the level of its involvement.<\/p>\n<p>Speaking in Luxembourg yesterday, Mr Regling also hinted the IMF could remain involved in the Greek programme on a technical rather than financial basis.<\/p>\n<p>Greece will need its next tranche of bailout cash before July when it needs to repay \u20ac6.2bn to back to its official and private sector creditors.<\/p>\n<p>Marc Chandler at BBH called said the market has responded \u201cviolently to the new round of brinkmanship\u201d.<\/p>\n<p>\u201cTime is working against Greece. The elections in France and Germany do not provide a conducive backdrop for concessions, and the public support for the Greek government is sliding\u201d, he said.<\/p>\n<p>Source:<a href=\"https:\/\/www.ft.com\/content\/d42c59ea-20b6-3e38-b67c-71fc9d9357af\" target=\"_blank\">link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F13568\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"13568\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F13568&text=Greek+bonds+suffer+%E2%80%98violent+reaction%E2%80%99+as+IMF+bailout+decision+looms\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"13568\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>Greek bonds suffer \u2018violent reaction\u2019 as IMF bailout decision looms.Greece\u2019s benchmark government bond yields have hit their highest level in two months amid concerns the International Monetary Fund is poised to exit its involvement in the country after more than six years of bailouts. Athens\u2019 10-year bond yields have surged another 39 basis points (0.39<\/p>\n","protected":false},"author":1,"featured_media":13219,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-13568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/13568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=13568"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/13568\/revisions"}],"predecessor-version":[{"id":13569,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/13568\/revisions\/13569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/13219"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=13568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=13568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=13568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}